AMMAN — The Industry, Trade and Supply Ministry on Monday said insurance premiums have increased by 1.8 per cent during 2017 amounting to JD593.5 million compared to JD582.9 million in 2016, the Jordan News Agency, Petra, reported.

 

According to a statement issued by the ministry, gross premiums increased by 0.3 per cent amounting to JD513.9 million for 2017 compared to JD512.4 million in 2016.

 

This growth was driven by increase in total vehicle insurance premiums by 3.5 per cent compared to 2016, while the total medical insurance premiums decreased by 2 per cent, and fire insurance and other property damage by 2.3 per cent.

 

Total premiums for life insurance amounted to JD79.6 million during the 2017 compared to JD70.6 million for 2016 with a growth rate of 12.8 per cent.